Ferroglobe (NASDAQ:GSM) Shares Cross Above 200 Day Moving Average - Time to Sell?

Key Points

• Ferroglobe's shares crossed above their 200-day moving average of $3.92, currently trading at $4.19 with a trading volume of 644,610 shares.
• Analysts have downgraded Ferroglobe from a "hold" to a "sell" rating, impacting investor sentiment despite the company's market cap of $781.98 million.
• The company recently declared a quarterly dividend of $0.014, translating to an annualized yield of 1.3%, with the ex-dividend date set for September 22nd.

Shares of Ferroglobe PLC (NASDAQ:GSM - Get Free Report) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $3.92 and traded as high as $4.23. Ferroglobe shares last traded at $4.19, with a volume of 644,610 shares trading hands.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered shares of Ferroglobe from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of "Hold".

Ferroglobe Stock Performance

The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.98 and a current ratio of 1.56. The stock has a market cap of $781.98 million, a P/E ratio of -7.35 and a beta of 1.69. The company's 50 day moving average price is $4.29 and its 200-day moving average price is $3.92.

Ferroglobe (NASDAQ:GSM - Get Free Report) last posted its earnings results on Tuesday, August 5th. The basic materials company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.06). The firm had revenue of $386.86 million during the quarter, compared to the consensus estimate of $398.00 million. Ferroglobe had a negative return on equity of 2.85% and a negative net margin of 6.99%. Equities analysts forecast that Ferroglobe PLC will post 0.33 EPS for the current fiscal year.

Ferroglobe Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 22nd will be issued a $0.014 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Monday, September 22nd. Ferroglobe's payout ratio is -10.53%.

Hedge Funds Weigh In On Ferroglobe

Hedge funds and other institutional investors have recently made changes to their positions in the stock. California State Teachers Retirement System purchased a new stake in Ferroglobe during the second quarter valued at about $27,000. Heck Capital Advisors LLC purchased a new stake in shares of Ferroglobe in the fourth quarter worth about $37,000. Creative Financial Designs Inc. ADV purchased a new stake in shares of Ferroglobe in the first quarter worth about $37,000. BNP Paribas Financial Markets lifted its holdings in shares of Ferroglobe by 1,017,300.0% in the second quarter. BNP Paribas Financial Markets now owns 10,174 shares of the basic materials company's stock worth $37,000 after buying an additional 10,173 shares in the last quarter. Finally, PNC Financial Services Group Inc. purchased a new stake in shares of Ferroglobe in the first quarter worth about $38,000. 89.64% of the stock is owned by hedge funds and other institutional investors.

Ferroglobe Company Profile

Ferroglobe PLC produces and sells silicon metal, and silicon and manganese-based ferroalloys in the United States, Europe, and internationally. It provides silicone chemicals that are used in a range of applications, including personal care items, construction-related products, health care products, and electronics; and silicon metal for primary and secondary aluminum producers.

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